Market Minute
What we thought was going to be a strong Spring market fizzled quickly. There was very little inventory.
Despite fewer homes for sale, buyers came out strong and they were willing to compete for desirable homes.
Real Estate Confidential
You have likely heard the recent news that Oakland home prices have dropped 11% over the past year. While that figure is eye-catching, it doesn’t provide the full picture of what is happening on the ground.
Oakland is a broad and diverse real estate market, and it is impossible to generalize its performance as a single entity.
For instance, the median sale price in March for zip code 94621 was $448,000, whereas in zip code 94618, it reached $2,125,000!
While certain areas of the city have seen significant declines, others are actually trending upward compared to last year.
In zip codes covering West and East Oakland, average sale prices between 2022 and 2026 show a 21% decrease.
However, in the North Oakland and Hills regions, average prices have increased by 4.1% over that same period.
Kim's Corner
This photo is from my recent listing at 19 Veteran Way. As I was preparing the marketing materials, I discovered the smiley face on the door—just one of many delightful surprises found throughout this home.